According to data released by automobile manufacturing body SIAM on Friday, passenger vehicle dispatches to dealers in India grew by 11 per cent year-on-year in July 2022, driven by improved semiconductor supply.
Passenger vehicle wholesale sales increased to 2,93,865 units in July 2022 as compared to 2,64,442 units recorded in July 2021.
Passenger car dispatches grew 10 per cent year-on-year to 1,43,522 units in July 2022 from 1,30,080 units in the same month last year.
According to data released by the Society of Indian Automobile Manufacturers (SIAM), utility vehicle wholesale sales grew 11 per cent to 1,37,104 units in July 2022 as compared to 1,24,057 units in July 2021.
The total production of passenger vehicles – three-wheelers, two-wheelers and quadricycles – increased to 8,267,268 units during the period April-July 2022.
Commenting on the July 2022 sales figures, Rajesh Menon, Director General, SIAM, said, “In July 2022, sales were 2.9 lakh units in the passenger vehicle segment, 13.8 lakh units in the two-wheeler segment and 31 thousand units in the three-wheeler segment.”
“The market for entry-level passenger cars, two-wheelers and three-wheelers is yet to improve. Two-wheeler sales in July 2022 are still down from July 2016 numbers and three-wheeler sales are still below July 2006 numbers With the third consecutive hike in repo rates, to rein in high inflation, auto loans will become costlier, making recovery of entry-level vehicles more difficult,” Menon said.
“SIAM would also like to thank the Government of India wholeheartedly for the recent decision to allocate higher quantities of domestic gas for the CNG segment. This will significantly reduce the input cost of the gas companies. We expect the government to follow suit. The gas companies will pass on the full benefits to the end consumers by reducing the retail CNG prices.”
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